Banks have been advised to make separate arrangements for the elderly and women, a senior government official told PTI.

Some branches like SBI main branch in Delhi have started distribution of Rs 500 notes.

Only Rs 2,000 notes, apart from Rs 100 and below, have been available since Prime Minister Narendra Modi on Tuesday night announced the surprise decision to demonetise higher denomination notes.

The new Rs 500 note is expected to ease pressure on banks’ cash position and improve liquidity in the market.

According to the Central Bank statement, the new Rs 500 banknotes bears the signature of Reserve Bank of India Governor Urjit Patel.

The stone grey-coloured note bears the year of printing ‘2016’ and the Swachh Bharat logo printed on the reverse.

The new Rs 500 note is different from the earlier in colour, size, theme, location of security features and design elements.

Here are some key features:

Image courtesy: RBI

Obverse:

1. See through register in denominational number 2. Latent image of the denominational number 3. Denominational number in Devnagari 4. Orientation and relative position of Mahatma Gandhi portrait changed 5. Windowed security thread changes colour from green to blue when note is tilted 6. Guarantee clause, Government's signature with Promise Clause and RBI emblem shifted towards right 7. Portrait and electrotype watermark 8. Number panel with numerals growing from small to big on the top left side and bottom right side 9. Denomination in numerals with Rupee Symbol in colour changing ink (green to blue) on bottom right 10. Ashoka pillar emblem on the right

11. Circle with Rs 500 in raised print on the right 12. 5 bleed lines on left and right in raised print

Reverse:

13. Year of printing of the note on left 14. Swachh Bharat logo with slogan 15. Language panel with slogan 16. Language panel towards centre 17. Red Fort — an image of Indian heritage site with Indian flag 18. Denominational numeral in Devnagari on right